Advanced Micro Devices Board Authorizes $4 Billion Share Buyback
May 19 2021 - 1:11PM
Dow Jones News
By Stephen Nakrosis
Advanced Micro Devices Inc. said Wednesday its board approved a
new share repurchase program for up to $4 billion of stock.
The company said it expects to fund repurchases through cash
generated from operations which have been strengthened by strong
operational results.
"Our strong financial results and growing cash generation enable
us to invest in the business and begin returning capital to our
shareholders," said Dr. Lisa Su, president and chief executive.
AMD has a market capitalization of $90.45 billion, 1.22 billion
shares outstanding and a public float of 1.21 billion shares.
At 12:34 p.m. ET, the company's stock had risen 3.16% to trade
at $76.78 a share.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
May 19, 2021 12:56 ET (16:56 GMT)
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